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Hyperinflation: Inflation Tax and Economic Policy Regime

In: Exploring the Mechanics of Chronic Inflation and Hyperinflation

Author

Listed:
  • Fernando de Holanda Barbosa

    (Getulio Vargas Foundation Graduate School of Economics (EPGE/FGV))

Abstract

Hyperinflation is a phenomenon characterized by destruction of money value at a finite time interval. Economic theory attempts to explain this phenomenon by using two alternative hypotheses: fundamentals and bubbles. In the first hypothesis, the model produces a steady state in which the real quantity of money is zero (m=0) and the price level is infinite, or hyperinflation occurs due to the nonexistence of an equilibrium solution of the model.

Suggested Citation

  • Fernando de Holanda Barbosa, 2017. "Hyperinflation: Inflation Tax and Economic Policy Regime," SpringerBriefs in Economics, in: Exploring the Mechanics of Chronic Inflation and Hyperinflation, chapter 0, pages 61-75, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-44512-0_6
    DOI: 10.1007/978-3-319-44512-0_6
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